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Nonprofiteer
← BUDGIT FOUNDATION

Form 990 for tax year 2024

Filed by BUDGIT FOUNDATION.

Totals

Total revenue
$659,802
Total expenses
$753,225
Contributions and grants received
$658,418
Grants paid
$192,450
Program service revenue
$0
Investment income
$1,384
Other revenue
$0
Total assets, end of year
$452,447
Total liabilities, end of year
$235,349
Net assets or fund balances, end of year
$217,098
Program services expenses (Part IX)
$753,225
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$753,225

Program services were 100.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $658,418

  • 3 · Investment income

    total $1,384 · related or exempt $1,384

Functional expenses

Part IX, the statement of functional expenses.

  • 3 · Grants to foreign organizations and individuals

    total $192,450 · program services $192,450

  • 5 · Compensation of officers, directors and key employees

    total $361,409 · program services $361,409

  • 7 · Other salaries and wages

    total $1,030 · program services $1,030

  • 10 · Payroll taxes

    total $20,493 · program services $20,493

  • 11g · Fees: other

    total $57,147 · program services $57,147

  • 14 · Information technology

    total $33,331 · program services $33,331

  • 16 · Occupancy

    total $19,670 · program services $19,670

  • 17 · Travel

    total $67,695 · program services $67,695

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $310,521 · end of year $32,311

  • 10a · Land, buildings and equipment: cost or other basis

    $6,491

  • 10c · Land, buildings and equipment, net

    end of year $6,491

  • 11 · Investments: publicly traded securities

    end of year $413,645

  • 17 · Accounts payable and accrued expenses

    end of year $235,349

  • 27 · Net assets without donor restrictions

    beginning of year $310,521 · end of year $217,098

Mission and programs · 2024

Mission

THE MAIN ACTIVITY OF THE ORGANIZATION WILL BE TO USE CREATIVE TECHNOLOGY TO SIMPLIFY PUBLIC INFORMATION, STIMULATING A COMMUNITY OF ACTIVE CITIZENS AND ENABLING THEIR RIGHT TO DEMAND ACCOUNTABILITY, INSTITUTIONAL REFORMS, EFFICIENT SERVICE DELIVERY AND EQUITABLE SOCIETY. ADDITIONALLY, THE ORGANIZATION WILL OFFER BUDGET ACCESS WITH IMPACT ANALYSIS FOR MARGINALIZED PERSONS, CIVIC TECHNOLOGY, POLICY ANALYSIS, BUDGET SIMPLIFICATION, AND ARTIFICIAL INTELLIGENCE FOR GOOD.

  • DELIVERY OF AN INTERACTIVE ENGINE TO VISUALIZE THE BUDGETS BY CITIZENS, SUPPORT FOR ACCESS TO PUBLIC BUDGETS IN SENEGAL AND GHANA AS SUPPORTED BY THE HEWLETT FOUNDATION, REDESIGN OF CURRENT WEBSITE FOR CHICAGO BUDGET ANALYSIS AND VISUALIZATION. THESE ACTIVITIES WILL BE CONDUCTED BY THE BOARD OF DIRECTORS, VOLUNTEERS, AND ANY PAID PROFESSIONALS THAT THE ORGANIZATION CHOOSES TO HIRE. THE ACTIVITIES WILL BE HEADQUARTERED IN WASHINGTON D.C, THOUGH WE HOPE TO HAVE A NATIONAL REACH. THE ORGANIZATION ALLOCATES 60% OF ITS TOTAL TIME TO ITS PROGRAMMATIC ACTIVITIES TOWARDS SIGNIFICANTLY EXPANDING ITS IMPACT IN WEST AFRICA, WHILE 40% WILL BE DEDICATED TO FUNDRAISING INITIATIVES. THE ACTIVITIES WILL BE FUNDED THROUGH DONATIONS, CORPORATE SPONSORS, AND GRANTS. THE ORGANIZATION WILL ALLOCATE 100% OF ITS OVERALL EXPENSES TO ITS ACTIVITIES.

    Expenses $753,225 · Grants $192,450

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Oluseun Onigbinde

    PRESIDENT/CE

    Total calculated
    $294,072
    From this org
    $294,072
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $294,072
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $294,072
  • Abiola Afolabi

    SEC./INT'L P

    Total calculated
    $67,337
    From this org
    $67,337
    From related orgs
    $0
    Other
    $0
    Hours/week
    40
  • Folashayo Babalola

    TREASURER

    Total calculated
    $0
    Hours/week
    10

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2024
Filed
17 July 2025
IRS schema version
2024v5.0
Source object
202532039349300203

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